- Asian stocks climbed, boosted by a continued rebound in Japanese stocks. Oil prices rose as tensions in the Middle East escalated.
- An Asian equities indicator jumped 0.5%, while the Nikkei 225 advanced more than 1%, on track for its greatest weekly gain since March 2022. Shares in China and Hong Kong varied, while those in South Korea and Australia fell. US market futures fell as Wall Street benchmarks closed little changed Thursday, as strong inflation data failed to dampen bets on Federal Reserve interest rate reduction.
- The US consumer price index data indicated that headline prices rose more than expected in December, while core inflation decreased, albeit less than consensus predictions. Swaps price for a cut by March rose marginally on the day, returning to levels seen at the end of 2023.
- China's consumer prices decreased for the third consecutive month in December, indicating weak domestic demand. That may justify China's central bank's decision to slash a key policy rate and inject more cash into the financial sector on Monday.
